ED Magedson – Founder
TRX ALLIANCE224 W Main Street Murfreesboro, Tennessee United States of America
We have been inquiring about the service bureau payment since June. We were told that they would be mailed July 1st, then; between 1st and the 15th; and then thru the 31st.
It is now Nov.17, 2010, We still have not received the Service Bureau Fee payments. We spoke to Josh a few months weeks ago who told us to wait 'til the Monday after which was after the 31st of July and that he was instructed to tell us that if the check were not received by the 31st of July he would overnight the checks to our office. I guest that he didn't know that his offices would be closed that week because he was moving. It appears to be intentional. Since then it has been one lie after another. He has now decided not to answer e-mails as promised anymore while he continues promoting his business on the internet. I am listing below some of Doug Hughes answers at TRX ALLIANCE below:
#1 TRX wanted to send you an update on your Service Bureau Fees. As you know, Doug Hughes met with an acquisition attorney on August 24th, and he was told the deal would close within 30 days, which is September 24th. This is where we got the September 24th date. Again, Doug spoke with the investors on Monday, September 13th to make sure the deal was still set to close for September 24th, and Doug was told that it wouldn't be a problem. Doug has a conference call about this on Friday, September 24th and we will update you about your Service Bureau Fees after the meeting is over.
#2 Update on the Rebate Money owed to you. I have been in meetings and conference calls all day today and for the past 4 weeks constantly. I was told on September 24th that we would have everything finalized within 30 days and in turn I relayed the same message to you guys. I am working this on two fronts, one of which is through a group of investors that will also bring TRX Financial a new product for TRX Alliance Members to offer this tax season. Working with the investment group does take time and these groups of investors do understand the urgency of getting every single one of you paid NOW! I tell them how urgent it is every day. The second method is that Kathy and I have been working with the mortgage company to get a loan to make sure everyone gets paid, but everyone knows how the closing dates get changed or underwriting holds you up especially with the current banking industry today.
I will assure you every one will be paid and starting Monday I will be sending out an e-mail advising you the status each day until you have been paid. As I am sure each of you realize with my staff and I we are on the verge of a complete melt down because we have not been able to pay you guys yet, because we all think of you guys as not only TRX Members but members of the TRX Family. I personally want to thank everyone that has been praying for TRX and me to get through this. Please remember be kind to my staff they are not responsible for any of this, it is all on me and if you will allow me I will get you paid very soon.
Update on Rebates: 10/12/2010
We are still working with the investment group to get the funds to pay everyone. I never realized this would be so detailed and take so long but it has, for which I apologize. When this is complete and each and every one is paid I do believe TRX will be stronger and be able to offer you things we would not have been able to do before.
The investment group and I want to assure you we all know the urgency of getting you paid, as I am working around the clock making sure I provide the requested information the investors require. I cannot give you a specific day that you will get your rebate as I thought it would have already been here, however I hope that it will be real soon.
I want to invite everyone to look at a couple of our websites for products we will be able to complete once the investment deal is complete,
This report was posted on Ripoff Report on 11/23/2010 06:29 PM and is a permanent record located here: http://www.ripoffreport.com/r/TRX-ALLIANCE/Murfreesboro-Tennessee-37130/TRX-ALLIANCE-TRX-has-collected-Service-Bureau-fees-for-my-company-and-pocketed-the-money-665032. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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